Many people have complained about Obamacare and how it adversely affected their current healthcare coverage. It’s unfortunate, in my opinion, the one thing that could have saved a great deal of grief and made the entire system cheaper and fairer for everyone was a single-payer program for all. And yes, I’ve heard about the people who fly to the US from Europe or come from Canada for their operations, but you have to remember that these are the richest, the top one percent, of people who can afford to pay cash for their procedures because they don’t want to wait for their procedure to be scheduled in the future. It’s not that our healthcare system is so much better, it’s because they just don’t feel that they should have to wait if it’s not an emergency procedure. A single-payer healthcare system is fair for everyone!
SINGLE PAYER BEATS WASTE AND FRAUD
Healthcare in America is a $2.6 trillion dollar a year industry. Of that, $750 billion is estimated to be spent on procedures, medicine, and equipment that was unnecessary to begin with and only done to avoid law suits or increase the bottom line of a greed based medical and insurance industry. And another $60 billion is lost thru Medicare and Medicaid annually because of fraud nationally.
Until the Affordable Care Act, the average administrative cost to provide you with insurance was 37 percent of your personal or employer based insurance policy. Under the new law that drops to 20 percent. But in the cases of Medicare and Medicaid they cost only three percent for the government to administer your coverage.
O.K., let’s do the math: 37 percent of $2.6 trillion dollars is roughly $957 billion for administrative costs and profit for insurance companies and their investors otherwise known as Wall Street. At 20 percent, the amount is roughly $520 billion dollars for the same administrative bottom lines. Now if we had a single-payer system that cost only 3 percent for administrative costs, then cost would drop to roughly 72 billion dollars.
The Obama Administration currently has budgeted $250 million dollars a year to reign in Medicare and Medicaid fraud. My question, why not a billion dollars in an effort to reduce $60 billion dollars a year in fraud, down to maybe $5 billion or more?
Even without reducing the unnecessary costs mentioned above, that leaves almost a trillion dollars to cover all of the Americans who don’t have insurance under the old way of doing things. It saves money, and covers more people, so why not single-payer coverage?
Think about it and feel free to comment. As Pat Benatar once sang, “Hit me with your best shot!”